Fitch Forecasts Global GDP Growth

The international rating agency Fitch Ratings has improved its forecast for global GDP growth in 2021 by 6.1%, according to the latest Global Economic Outlook (GEO) report. In December, an increase of 5.3% was expected, Interfax reports.

The report notes that the outlook has improved amid a significant increase in financial support from the authorities, the adaptation of economies to social distancing, and an increase in the rate of vaccination against COVID-19.

“The pandemic is not over yet, but it looks like we have entered the final phase of the economic crisis,” said Brian Coulton, chief economist at the agency.

The growth of the economies of developing countries excluding China is expected to be 6% against the 5% expected three months ago.